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Frequently Asked Questions
Our goal is to create a platform that allows our practice partners to focus on providing top quality care to their patients, and not the day-to-day administrative work of running a business. Practices benefit from streamlined back-office support provided by our leading service organization team, including recruiting, marketing, HR, finance and IT. Inspire also provides operational expertise and growth capital for high return growth initiatives.
We partner with best-in-class plastic surgery practices; thus, we will always aim to understand a practice and how to enhance its growth before making any recommendations. Your practice will retain autonomy over clinical decisions and treatment of patients. That autonomy will be complemented with the collective purchasing power and brain trust realized by bringing together the top physicians across the nation. And as noted above, Inspire also provides the back-office support that lets you continue doing what you do best.
We believe the practices we partner with have already achieved stellar reputations in the market that has often been cultivated over decades – we want that same branding to continue. However, we also want practices to benefit from the national marketing efforts and recognition that comes with the growing Inspire platform brand as well. Thus, we will work with you to ensure that affiliation benefits your practice’s brand.
Yes, we expect all owners to continue to practice for at least 5 years after partnering with Inspire. For physicians looking to retire after that time frame, we will work with you on a succession plan if not already in place. For younger physicians, there is plenty of runway to continue to grow and practice with Inspire!
We know that attracting, retaining, and motivating top talent is extremely important for any practice. We place a large emphasis on communication and aligned incentives to ensure that all employees feel valued on the Inspire platform. We survey all employees every quarter to ensure all voices are heard. We also look for opportunities for employees to work across the platform, as those occasions emerge.
Once we have calculated your practice Adjusted EBITDA (“Earnings Before Interest Tax Depreciation and Amortization”) for the most recent 12 months, we then apply a multiple to that number to arrive at a purchase price, structured in accordance with applicable laws. This multiple – and therefore the ultimate valuation of your practice – will vary up or down based on several individual criteria (e.g., location, size of practice, age of physicians, historical growth rates). A portion of the purchase price will be offered in cash and a portion as rollover equity into Inspire so that physicians can benefit from the overall value creation of our platform.
Upon partnership, owner-physicians sign employment agreements with their applicable practice and transition to compensation based on a pure percentage of collections attributable to personally performed services. This percentage is designed to align with what the physician is currently taking home before the transaction.
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